Chobani Inc, a leading Greek yogurt brand, has filed Form S-1 Registration Statement on November 1x7, 2021 with the U.S. Securities and Exchange Commission to raise up to $100 million IPO. Pricing terms are yet to announce. Sources estimate the total proceeds raised would be up to $1.5 billion.
The company sells thick, Greek-style yogurt with a higher protein content than traditional yogurt and is one of the main companies to popularize this style of yogurt in the US. The company has also expanded to non-dairy, plant-based products such as dairy-free vegan yogurt and oat milk.
The New Berlin, New York-based company was founded in 2005 and booked $1.5 billion in sales for the 12 months ended September 30, 2021. It plans to list on the Nasdaq Global Select Market under the symbol “CHO.” Sachs, BofA Securities, J.P. Morgan, Barclays, TD Securities, Stifel, KeyBanc Capital Markets, and Canaccord Genuity are underwriters of the IPO.
The company engages Gibson, Dunn & Crutcher LLP as US Securities Counsel, and Ernst & Young LLP as Independent Auditor.
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